A salesperson who uses a cash register to record over-the-counter sales should, at the end of each work day, turn over to a supervisor the cash register tape and a corresponding amount of cash.
a. true
b. false
Answer: a. true
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The cost of holding money is best described as
A. the yield which is paid to money holders by the U.S. government. B. the cost of printing money. C. the goods and services that money can buy D. the yield that could have been earned had the asset been held in another form.
The economic concept of scarcity refers to the fact that:
A. limited resources require economies to make choices among production alternatives. B. income must be redistributed through taxation in order to address income disparity. C. the United States will always have a battle to fight hunger. D. resources are often wasted and shortages are often the result.
"More people purchase chap stick when the weather man announces that we are in for a very windy week." This statement implies that:
A. buying Chap Stick causes it to be windy. B. people plan on kissing more on windy days. C. buying Chap Stick is positively correlated with the announcement of a windy week. D. the weather man is getting a kickback from the makers of Chap Stick.
Structural unemployment is a variation in unemployment caused by:
a. individuals lacking skills valued by the labor market. b. people changing jobs within the economy. c. seasonal changes in the weather such as the temperature getting hotter. d. organizational structural changes.